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13 Mar 2024, 13:15

Public sector banks asked to reassess gold loan process amid debt risk concerns

Public sector banks asked to reassess gold loan process amid debt risk concerns

Public sector banks asked to reassess gold loan process amid debt risk concerns

The Ministry of Finance has written to public sector banks to reassess their gold loan procedures amid concerns over risky debt as gold prices surge, informed a senior official. This comes against the backdrop of a rise in gold loans year-on-year basis. Gold loans surged by 17 per cent mirroring the 16.6 per cent increase in gold prices and loans against gold jewellery reached Rs 1.01 lakh crore as of January 26.

Electoral bonds: SC rejects SBI's plea for time extension, directs it to furnish details by tomorrow
11 Mar 2024, 13:18

Electoral bonds: SC rejects SBI's plea for time extension, directs it to furnish details by tomorrow

A five-judge Constitution bench of the Supreme Court on Monday dismissed the State Bank of India's plea seeking extension of time and directed it to furnish the details of electoral bonds to the Election Commission by close of business hours on March 12. A bench headed by Chief Justice D Y Chandrachud also directed the EC to publish the details shared by the bank on its official website by 5 pm on March 15.

DBS Bank says it deducted 27% salary of its CEO Gupta for tech glitches in 2023
06 Mar 2024, 13:54

DBS Bank says it deducted 27% salary of its CEO Gupta for tech glitches in 2023

The salary of DBS Bank's Indian origin chief executive Piyush Gupta was cut by a hefty 27 per cent to SGD 11.2 million (about Rs 69 crore) last year for various incidents of technical glitches, the bank said in its annual report. In 2022, Gupta received a salary of SGD 15.4 million. The Singapore-based bank had, in February, said that the 2023 variable compensation for its CEO and other members of the group management committee has been cut, holding them accountable for the series of digital disruptions that took place last year.